Bankruptcy Petition filing steps

Take a file folder and put a statement from every creditor that you owe in it. In case you do not receive a every month statement from the creditor, put the following information on a sheet of paper and put it in your file:

·          Name and complete mailing address of who you owe;

·          Your account number (if applicable);

·          The name of who owes the debt (husband, spouse or both);

·          The total amount you owe this creditor;

·          How much your every month payments are;

·          The date you originally went in to debt with this creditor if you do not remember the exact date, an approximate year i.e., 2001, 2002, 2003, etc. will do;

·          If the debt is for a credit card, record the last date you charged on this credit card. In case you charged less than 90 days ago, you need to write down the amount you charged and the reason for the acquisition.)

·          In the same file folder, also put in the following documents:

·          Your current pay check stubs;

·          In case you are unemployed, include copies of documents showing any income you receive(d) from unemployment, workers compensation, infant support, SSI, social security, retirement, estate, etc.

·          Mortgage and deed in case you own or are purchasing a home or other actual property (i.e., land, apartment complex, etc.);

·          Copies of your automobile, boat, motorbike, mobile home or other titles to motor vehicles;

·          Copies of your tax returns;

·          Copies of any court proceedings filed against you;

When you have put together your file, you will have most of the information needed to file a bankruptcy petition. However, the attorney, or whoever you hire to prepare your bankruptcy petition may also need other documents, depending on your particular situation, but they will let you know when you go to their office for the preliminary intake interview.

A bankruptcy petition is then filed in court. It contains several sheets of paper that includes schedules and forms. Each schedule and form relates to different items that must be filled out properly. Normally people choose to hire an attorney to prepare their bankruptcy petition, but some people hire independent paralegals, and some people purchase bankruptcy kits and try to do it themselves.

In case you choose to hire an attorney, try to find someone who focuses on the field of bankruptcy. In other words, your most suitable choice for an attorney is who does nothing else but focus on bankruptcy law exclusively. You will probably also find bankruptcy attorneys that also do divorce, wills, probate, and DUI; but if given a choice between the selected the attorney who focuses on bankruptcy.

Calling around to different attorney offices and asking them what they charge to file a bankruptcy is the most efficient method of locating a nice bankruptcy attorney. Attorneys who promote cheap prices for filing bankruptcy petitions in your every day newspaper, often do not file all the schedules and forms at time (which is perfectly legal) and will charge you additional money to file the remainder of the petition within the 20-30 day allowance. You normally pay extra money to this attorney than in case you hired a competent attorney in the first place.

You can hire a freelance bankruptcy paralegal to prepare your bankruptcy petition, but if issues come up (such as litigation with a creditor or the filing of Motions), it would be best to hire an attorney to do these things for you. You can purchase a bankruptcy do it yourself kit but unless you understand how to prepare the bankruptcy petition in a manner to present to the court, these kits will do absolutely nothing for you except give you some practice at filling out forms.

In reference to the do it yourself kits, filing bankruptcy is not basically filling out a set of forms and handing them to the court. For example, in case you do not know anything about exemption allowances you won't know how to include them and your petition will be rejected or you may lose something you own.

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